Banking sector is one of the leading high paying jobs in East Africa. This is evidenced by earnings of CEOs of Kenyan banks. For example, National Bank of Kenya’s Chief Executive Wilfred Musau earned a total of KSh48 million (UShs1.77 billion) in the year ended December, representing an 80 per
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The Ethics and Anti-Corruption Commission (EACC) is investigating former and current Central Bank of Kenya (CBK) officials for their role in the multi-billion shilling accounting fraud that felled Imperial Bank, Kenya based Business Daily reports. EACC deputy chief executive Michael Mubea said yesterday investigations into the activities of the unspecified
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Bank of Uganda (BoU), the regulator of the banking industry is in a tight corner after recording unprecedented operating losses in the last few years. This state of affairs has left the Central Bank with less capital, a development that may adversely affect the banking industry and the economy at
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Winners of the 2018 African Banker Awards have been announced at a prestigious Gala Dinner in Busan, South Korea. The Awards, held annually on the fringes of the Annual Meetings of the African Development Bank, celebrate excellence in banking and finance on the African continent. East Africa dominated the awards
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Bank of Uganda (BoU) has been tasked by John Muwanga the Auditor General (AG) to account for 25 properties that went missing following the takeover of Global Trust Bank (GTB) in 2014. BoU has also been ordered to place caveats on all the lost titles to protect the properties and
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Banking industry assets increased to Shs26.5 trillion in 2017, up from Shs22.5trillion recorded in 2016, Business Focus exclusively reports. According to 2017 financial statements for all the 24 banks obtained by this site, Stanbic is Uganda’s largest bank by assets. Its assets increased to Shs5.4 trillion in 2017, up from
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Pan-African Bank-Ecobank won the Best Digital Strategy Award at the Retail Banker International’s prestigious awards ceremony held at the Waldorf Hilton Hotel in London last week. Ecobank’s digital strategy leverages digitalisation for scale and ubiquity and is the key plank in its ambition to be the top consumer financial services
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dfcu bank Chief of Business & Executive Director, William Sekabembe has revealed that banks that will not invest in technology are set to become obsolete. “Our commitment is to invest in technology. If banks don’t invest in technology, they will become irrelevant,” Sekabembe said, adding: “We are enhancing our technology
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Bank of Uganda (BoU) Deputy Governor, Dr. Louis Kasekende has made steps to block a forensic audit by the Auditor General into the operations of the Central Bank and its role in the closure of four commercial banks. Kasekende wrote to the Attorney General on April 19, 2018, protesting an
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By Kiconco Katabaazi Patrick /Advocate-Public Policy Specialist It is at this time of the year that the press and public domain gets busy with buzz about the budget and tax proposals. According to section 13 (11a) of the Public Finance Management Act,2015 the Minister of Finance is mandated to present
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